INVESTMENT INCENTIVESPDF电子书下载

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Foreword by P. den Boer 9

Summary 11

Glossary 13

CHAPTER Ⅰ WHY INVESTMENT INCENTIVES MATTER 17

CHAPTER Ⅱ WHAT ‘INVESTMENT INCENTIVE’ MEANS 20

CHAPTER Ⅲ WHAT INVESTMENT INCENTIVES ARE FOR 23

CHAPTER Ⅳ CATALOGUE OF INVESTMENT INCENTIVES 26

The catalogue 27

Ⅰ.Accelerated depreciation 27

（a） Depreciation at choice 28

（b） ‘Free depreciation’ 28

（c） Initial allowances 29

（d） Advanced depreciation 29

（e） Depreciation on the basis of replacement cost 29

（f） Declining-balance depreciation 30

Ⅱ.Valuation discount 31

Ⅲ.Tax-free reserves 32

Ⅳ.Investment deductions 34

（a） Investment allowances 34

（b） Investment tax credits 36

Ⅴ.Investment payments 37

Ⅵ.Concessionary tax rates； changes in tax rates； tax exemptions 37

Ⅶ.Carry-back and carry-forward of losses 38

Ⅷ.Investment grants 38

Ⅸ.Cheap loans； interest subsidies 40

Ⅹ.Concessionary prices and other price subsidies 40

ⅩⅠ.Discouragements to investment: selective invest-ment tax 41

The tables 41

1. Relationships of investment incentives to profits and tax 42

2. Forms of tax incentive 43

3. Relationships of investment incentives to the rate of in-terest 44

CHAPTER Ⅴ TECHNICALITIES OF INVESTMENT INCENTIVES 46

Deferral of tax 46

Normal depreciation 46

Methods of depreciation 46

Valuation at actual value 47

Depreciation in accordance with intensity of use 48

Normal depreciation permitted by tax law 49

Degressive depreciation 49

Useful life 52

Residual value 53

Starting time of depreciation 54

Recaptured depreciation 55

Accelerated depreciation 56

Technicalities of deviation from the norm 57

Non-technical elements of recapture provisions 59

Investment reserves 59

Reserves not constituting a tax deferral 61

Reduction of tax 61

Qualifying investments explained by examples 62

The profitability of the investor 64

Investment payments 65

The German Investitionszulage 65

The Dutch draft Investeringsrekening 66

Tax-shelter investment 67

CHAPTER Ⅵ COUNTRY-BY-COUNTRY CLASSIFICATION 71

Tabular classification 71

Accelerated depreciation 71

Valuation discount 72

Carry-back/carry-forward 75

Classified list of measures 75

Belgium 75

Denmark 76

France 76

Germany 77

Ireland 78

Italy 78

Luxembourg 80

Netherlands 80

Sweden 81

United Kingdom 81

United States 82

Current trends 82

CHAPTER Ⅶ INCENTIVES AND DISCOURAGEMENTS 86

Investment and consumption 87

Concepts of neutrality 93

Tax expenditures 95

Profit-sharing and worker participation 96

Environmental control 99

CHAPTER Ⅷ TAX INCENTIVES AND THE SYSTEM OF COR-PORATION TAX 102

Systems of corporate taxation 102

Which rate of tax determines the value of a tax-related investment incentive? 105

Investment incentives and relief from economic double taxation 108

Investment incentives and relief from international double taxation 109

Repayment of tax never paid 110

The use of investment incentives to finance dividends 112

CHAPTER Ⅸ THE LOGIC OF AN INCENTIVE SYSTEM 113

Equivalence of investment incentives 113

Real value of investment grants and investment allowances 114

Cumulation of investment incentives 116

Investment incentives and marginal quality of investment 117

Investment incentives and marginal firms 118

CHAPTER Ⅹ THE COSTS AND BENEFITS OF INVESTMENT INCENTIVES 120

Costs 120

Benefits 121

Investment quality 122

Cost/benefit ratio or balance 123

Research 123

CHAPTER ⅩⅠ THE CHOICE OF INVESTMENT INCENTIVE 126

Disadvantages of the conventional approach 126

Choice for the policy-maker and choice for the firm 128

The choice of investment incentive 128

（ⅰ） Before tax and after tax 129

（ⅱ） Tax-related incentives and subsidies 129

（ⅲ） The catalogue 131

Conclusion 133

List of tables 137

Index 139

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